In January 2009, Satoshi Nakamoto launched Bitcoin. It was the first cryptocurrency, and to date, it is the most trustworthy of all with a massive user base. In recent years, Bitcoin has become famous among young people looking to invest their money non-traditional. A lot of discussions have already taken place regarding cryptocurrency in general and Bitcoin in particular.
However, people are still confused and unaware of how they can use digital currency in their daily lives to make a purchase. Let us look into the various ways in which you can use your Bitcoins.
Where can you pay with Bitcoin?
It has taken some time for companies and big brands to gain faith regarding this current mode of transaction. However, things are better for crypto enthusiasts. These are the ways you can use cryptocurrency.
- Video Games – Microsoft has started accepting Bitcoin recently. So you can buy your favorite game with your Bitcoins.
- Gift Cards – Gifting bitcoin to someone is possibly the most incredible thing to do. Apart from doing that, you can also buy gift cards from various businesses such as Gyft. Most of these are redeemable at Amazon and other such e-commerce websites. Perfect gift for a graduation party, marriage, or birthday.
- Electronics – Several businesses in the electronics industry accept Bitcoin. One such brand is Newegg.
- Travel – The travel industry regularly deals with people worldwide, and is flexible regarding crypto payments. Bost companies associated with travel, such as airplane giants and hotel chains, accept Bitcoin.
- Food – The situation is similar in the food and healthcare department. Many famous fast-food chains and restaurants have warmed up to the idea.
Easy steps to pay with Bitcoin
If you are clear about what you can buy with Bitcoin, it’s time to understand the process of purchasing with it. Follow these simple steps –
- Select a Bitcoin wallet – A wallet is synonymous with a bank. The only difference is that it won’t charge you a ridiculous amount for using it. Through a digital wallet, you can buy, sell and even trade Bitcoin. Before you choose a Bitcoin wallet, do in-depth research on the leading ones to assess the advantages and disadvantages of each one of them. A reputed Bitcoin wallet can make dealings easier and faster with lower risks of losing money.
- Make a purchase – Once you complete setting up your account, you should buy a bitcoin or multiple of them. Through Bitcoin buying platforms, you can easily purchase by using a credit card or a debit card.
- Pay in Bitcoin – After you invest in some Bitcoins, you can head on to make a buy at places where they accept it as a legitimate mode of payment. You can refer to the list above of the ones who receive Bitcoin and make a purchase.
What you must keep in mind while paying with Bitcoin
- Make sure that you are using a legitimate platform to make your transactions. The bitcoin pro is a safe gateway for making purchases with Bitcoin.
- Lookout for frauds. Whenever you make a payment, do a thorough background check to judge the authenticity of the merchant you are getting involved with.
- Never share confidential data with anyone. If you are the owner of a Bitcoin, only you have access to the sensitive information stored in the block.
- Keep track of the value of Bitcoin to assess the purchases you make and how profitable it is to invest in crypto at that point.
- Last but not least, much like any other investment decision, understand what is at stake.
Bitcoin is gradually gaining more media attention. According to experts, crypto, especially Bitcoin, will have a massive impact on the market in the next decade. If you already own Bitcoin, it’s high time you start using them in your daily life or trading it for better opportunities. Purchasing with Bitcoin is easy, and with time more and more businesses will open up to the idea.